Trustmark Bank Trust Department Has $532,000 Stock Position in Altria Group, Inc. $MO

Trustmark Bank Trust Department boosted its holdings in Altria Group, Inc. (NYSE:MO) by 11.3% in the second quarter, Holdings Channel reports. The firm owned 9,082 shares of the company’s stock after purchasing an additional 922 shares during the quarter. Trustmark Bank Trust Department’s holdings in Altria Group were worth $532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. GQG Partners LLC grew its holdings in shares of Altria Group by 8,146.4% in the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock valued at $1,122,290,000 after acquiring an additional 18,471,846 shares in the last quarter. Nuveen LLC bought a new stake in Altria Group during the first quarter worth about $219,141,000. Charles Schwab Investment Management Inc. boosted its position in Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock valued at $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Altria Group by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company’s stock valued at $717,913,000 after purchasing an additional 3,415,237 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in Altria Group by 111.3% in the first quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company’s stock valued at $333,606,000 after purchasing an additional 2,928,006 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MO. Bank of America upped their price objective on Altria Group from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. UBS Group cut their price target on shares of Altria Group from $68.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. The Goldman Sachs Group boosted their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.33.

Altria Group Trading Up 0.5%

NYSE:MO opened at $58.98 on Monday. The stock has a market cap of $99.01 billion, a P/E ratio of 11.41, a PEG ratio of 3.45 and a beta of 0.51. The stock has a 50 day simple moving average of $61.86 and a 200 day simple moving average of $61.82. Altria Group, Inc. has a 1-year low of $50.08 and a 1-year high of $68.60.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 30th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. Altria Group has set its FY 2025 guidance at 5.370-5.45 EPS. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group declared that its Board of Directors has approved a stock buyback program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.